Business Plans

Which of these stakeholders might be MOST interested in seeing a business plan?

• Bank

• Government

• Customer

• Employees

How can a business plan be used to minimise risk for a business?

• It tells an entrepreneur exactly how much profit they will make

• It shows an entrepreneur how many products they will definitely sell

• It allows an entrepreneur to make informed decisions about their business

Why would a bank primarily be interested in seeing a business plan?

• To determine whether a business operates in an ethical way

• To determine whether a business would be able to pay back a loan

• To check a business’ aims and objectives

A business plan is important for all of the following reasons EXCEPT:

• A business plan forces a firm's founders to systematically think through each aspect of their new venture

• A business plan provides lenders and investors assurance that they will earn a decent return

• A business plan provides an investor with something to react to

• A business plan is a selling document that enables a company to present itself to potential suppliers and business partners

What is in the first section of a Business Plan?

• Business aims and objectives

• Revenue forecast

• Business idea